Daylight Robbery?

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We have included this page for anyone still under the illusion that banks are there to help you and fiat currency is a fair system of ‘money’ for the average person, or someone that is down on their luck and needs a bit of financial help. Unfortunately the more help you need, the more you are generally charged, which only makes things worse and keeps people in debt and struggling financially for years. Due to the massive devaluation of our currencies by the fractional reserve banking system causing huge amounts of inflation, and the extortionate interest rates charged by the banks, people are now going in to retirement with huge debts, which would never have been the case only 30 years ago.

Generally speaking, the longer you hold fiat currency in a bank account, the poorer you will actually become in terms of real purchasing power, even if you save it in a tax free shelter. If the interest rate is less than the rate of inflation you are losing your wealth, your account balance may appear to be rising (nominally) but each year it will purchase less.

If you borrowed £1000 and they charged you 0.01% APR you would pay 10p interest a year, less than a penny a month.

If you received 19.9% APR interest on your savings your balance would show £1199 after a year.

Unfortunately, not only does it work the other way around, meaning your £1000 savings with 0.01% interest rate shows a nominal balance of £1000.10 at the end of the year, but when adjusted for inflation (say 2.5%) the purchasing power of your savings has actually been reduced to £975.09 and £950.81 a year later and so on, due to the hidden tax.

Does all this really sound like the banks and financial system is there to help you?

Even RBS, the failed bank that was 62.4% bailed out by the UK taxpayers for £45.5 Billion, will still charge what are basically its owners, an increase of 198,900% over the amount they will pay you, when you lend to them.

If that’s not institutionalised daylight robbery we don’t know what is.

debtslave
Barclaycard
Barclays_saver

Barclays Everyday saver account pays you 0.01% interest when you lend the bank your savings, compared to a Barclaycard Forward Credit card that charges you 33.9% when the bank lends to you.

There is a 338,900% increase on what they charge you compared to what they pay you.

natwest_creditcard
natwestsavingaccount

Natwest Instant Saver account pays you 0.01% interest when you lend the bank your savings, compared to a Natwest Longer Balance Transfer Credit card that charges you 19.9% when the bank lends to you. 

There is a 198,900% increase on what they charge you compared to what they pay you.

Tescocard
Tesco account

There is a 27,399% increase on what they charge you compared to what they pay you.

santanderaccount

Santander Everyday Savings account pays 0.01% interest when you lend to the bank, but they charge up to 49.8% when the bank lends to you. 

There is a 497,900% increase on what they charge you compared to what they pay you.

santander card
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